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Atlas Development goes down as a poster boy of rotten stock

Then Atlas Development and Support Services chief executive Carl Espery during the gong ringing to mark beginning of trading of Atlas shares at the Nairobi Securities Exchange on December 17, 2014. FILE PHOTO | NMG

By  Rufus Mwanyasi

Managing Director

Canaan Capital Limited

The envelope please. My “rotten stock” award is going to be given annually starting now, to regressive companies (and their management), which have destroyed shareholder value at least in the past 12 months.

More specifically, their stock has lost more than 50 percent. Such behaviour deserves an award (even if it can’t be placed on the company trophy desk) because it “lights the way” for other firms not to do something similar.

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Note: The results are not exact but very close to the actual.

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